Advanced Medical announces resignation of executive vice president & CFO Joseph W. Kuhn.SAN DIEGO--(BUSINESS WIRE)--March 5, 1997-- Kuhn says his role to combine the operations of IMED IMED International Medical Education Directory with IVAC IVAC Islington Voluntary Action Council (England, UK) IVAC Insert Valid Access Card (satellite TV hacking) IVAC International Video & Audio Convention IVAC Idle Air Control Valve is now complete Advanced Medical Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AMA (Automatic Message Accounting) The recording and reporting of telephone calls within a telephone system. It includes the calling and called parties and start and stop times of the call. ) Wednesday announced that Joseph W. Kuhn, president of Advanced Medical and its IMED Corp. subsidiary (IMED) prior to the merger of IMED with IVAC and now executive vice president and chief financial officer of the combined companies, has resigned. However, Kuhn will remain with Advanced Medical for a short time to advise it on certain merger-related matters. Advanced Medical President and Chief Executive Officer William J. Mercer will serve as acting chief financial officer assisted by the former IVAC CFO See Chief Financial Officer. Debra Crawford, while Advanced Medical completes the search now underway for a new full-time CFO. Kuhn said his role to help combine the companies is complete. The management team, assisted by the consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a of A.T. Kearney, is in the process of implementing the final integration plans. Kuhn added that the merger created a global leader with economies of scale that advanced the strategic interests of both companies. Kuhn became executive vice president and chief financial officer as part of the merger agreement after serving as Advanced Medical president for three years. The private IVAC merged with Advanced Medical's sole subsidiary, IMED, in November 1996. Mercer said, "Joe has made significant contributions to the present strength and opportunities that define the combined company today. He was the architect of a broad turnaround in Advanced Medical three years ago that positioned it for the merger, and he has been a key participant in combining the companies post-merger." Advanced Medical Chairman Jeffry M. Picower said: "I've enjoyed working with Joe over the years. He is a no-nonsense manager focused on shareholder value and cost-consciousness. Joe's work with Bill Mercer Bill Mercer is an American sportscaster, originally from Muskogee, Oklahoma, who now lives in Richardson, Texas. His career spans over 60 years and has included broadcasting stints with the Dallas Cowboys, the Texas Rangers, North Texas State University (now known as the University has been extremely useful in developing the basis for a very experienced management team. We are positioned for future growth with a highly focused, well-organized leadership team throughout the combined company." Advanced Medical is a global leader of infusion systems and proprietary disposable products. The company's principal line of business is the design, manufacture and marketing of intravenous infusion therapy products, vital signs instruments and related disposables. Advanced Medical's products are distributed in more than 120 countries worldwide. In addition to its San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. world headquarters and manufacturing facility, the company also operates manufacturing facilities in Creedmoor, N.C.; Basingstoke, Hampshire, U.K.; and Tijuana, Mexico. -0- This news release contains forward-looking statements that are based largely on the company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the company's control. Actual results could vary materially from these expected results due to a variety of factors, including the uncertainties of financial projections and results from consolidation. The company undertakes no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. Risk factors, including without limitation changes in the market and competition, are detailed in the Securities and Exchange Commission filings of Advanced Medical Inc. and IVAC Medical Systems Inc., particularly their respective Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filings for the year ended December 31, 1995. CONTACT: Advanced Medical Inc., San Diego Barbara Burkett, 619/458-7038 or The Financial Relations Board, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Stacy Roughan (general information), 310/442-0599 Moira Conlon (investor/analyst), 310/442-0599 |
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